Dell reported earnings after the close yesterday (30th aug 07).
Dell was trading around 28.50
I had a butterfly trade entered few minutes before the close yesterday. Put Butterfly with strikes 30,27.5 and 25.
I was bidding .70 cents for the butterfly since afternoon and didn't get the fill. I increased to .80 cents, still no luck, just few minutes before the close, ask was .85 and i got 4 butters for .85 costing me $340.00
Exited the trade this morning for $410.00, profit of 70 bucks. Not a whole lot, but yield and time wise, I feel good. 20% on that trade within 24 hours.
Dell was trading around 28.50
I had a butterfly trade entered few minutes before the close yesterday. Put Butterfly with strikes 30,27.5 and 25.
I was bidding .70 cents for the butterfly since afternoon and didn't get the fill. I increased to .80 cents, still no luck, just few minutes before the close, ask was .85 and i got 4 butters for .85 costing me $340.00
Exited the trade this morning for $410.00, profit of 70 bucks. Not a whole lot, but yield and time wise, I feel good. 20% on that trade within 24 hours.
